latest
Oil Marketers Clash With NNPC, Insist Fuel Price Should Hit N1,200 Per Litre Despite Subsidy Claims
....KINDLY READ THE FULL STORY HERE▶
The disagreement arises as the country’s currency continues to depreciate against the dollar in both the official Investors & Exporters Window and the parallel market…CONTINUE READING
On Tuesday, the local currency was traded at N1,225/dollar on the black market, contrasting with its closure at N998/dollar on the official market.
Economists and oil marketers argue that the PMS subsidy has been increasing lately due to the declining naira rate. Contrarily, the NNPC promptly refuted these claims, asserting that it was covering its entire cost from the importation of Premium Motor Spirit, commonly known as fuel.
During a broadcast on Channels TV last Sunday, Bismarck Rewane, CEO of Financial Derivatives Company, clarified that the fuel subsidy was not eliminated but rather reduced.
Similarly, oil marketers informed Punch Newspaper on Tuesday that PMS should be priced at N1,200/litre in a free market, citing the rise in gasoline subsidies amid the naira’s depreciation against the US dollar and crude oil prices.
The cost of petrol, exclusively imported by the NNPC, varies between N617 to N660 per litre, depending on the purchase location.
Addressing the matter, Muda Yusuf, CEO of the Center for the Promotion of Private Enterprise, acknowledged a partial government subsidy on fuel but attributed it to political, social, and economic factors.
However, Olufemi Soneye, Chief Corporate Communications Officer of NNPC, asserted that the Federal Government had ceased providing fuel subsidies, dismissing the perspectives of economists and marketers as assumptions.
President Bola Tinubu, in his inaugural speech on May 29, 2023, declared the discontinuation of the fuel subsidy. The NNPC effectively implemented this announcement the following day.
entertainment
‘They Wanted Me Gone’: Halima Abubakar Exposes Nollywood Peers Who Abandoned Her In Sickness
Nollywood actress Halima Abubakar has opened up about her harrowing battle with ill health, revealing that despite expecting support from her peers, many industry colleagues completely abandoned her during her time of need.....KINDLY READ THE FULL STORY HERE▶
In an interview with Saturday Beats, the actress explained that while she initially felt deeply hurt, she has chosen not to harbor resentment, acknowledging how easily rumors and gossip spread within the entertainment industry. She noted that many individuals chose to act on hearsay rather than reaching out directly to verify facts, which she believes led to her unjust treatment and indefinite suspension.
Reflecting on the darkest moments of her illness, Abubakar expressed pain over the total lack of visits or check-ins from certain colleagues, stating that she felt left to her fate. However, she emphasized that she holds no sense of entitlement toward anyone.
“They don’t owe me anything, and I do not owe them anything,” she stated, attributing her survival entirely to her faith in God.
While she witnessed the true character and judgments of many during her ordeal, Abubakar noted that she has moved past the negativity and retains affection for her colleagues, recognizing that they may have simply been swayed by false narratives.
She also took time to express profound gratitude to the individuals who genuinely rallied around her medically and financially. She specifically thanked musician Patoranking and footballer Ahmed Musa for their kindness, while noting that her numerous messages to Don Jazzy went unanswered. Furthermore, Abubakar expressed immense appreciation for former BBNaija star Mercy Eke, alongside junior colleagues Destiny Etiko, Lizzy Gold, Monica Friday, Queeneth Agbor, and Regina Daniels, whom she credited with providing vital support and facilitating free medical treatment.
latest
Inside The Storm: Senator Umeh Drops Massive Clarification On Peter Obi’s Secret Collation Plan.
Nigeria Democratic Congress (NDC) chieftain Victor Umeh has clarified that the party has no intentions of setting up a parallel result collation framework for the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
This statement comes on the heels of comments made on Thursday by the party’s presidential candidate, Peter Obi, who announced that the NDC would implement a mechanism to relay polling unit tallies directly to its situation room during the 2027 polls. Obi had explained during an interview on Arise Television that this strategy would guarantee accurate data transmission and block the addition of unrecorded figures from polling booths.
However, speaking on Channels Television’s Politics program on Friday, Umeh asserted that Obi’s remarks were misconstrued. He emphasized that the party will merely station agents at polling units to forward legally declared results—recorded on official forms—to the party’s situation room for independent tracking.
Umeh stressed that this setup should not be labeled a parallel system.
“I believe he (Obi) must have been misquoted,” Umeh stated. “What he is trying to say is that the party would have its agents at every polling unit and once the results are collated, declared, and put in the prescribed result form, they will be doing their own collation in the situation room. You must send the results of the polling units to the NDC situation room. INEC has no monopoly of collation of data.”
African Democratic Congress (ADC) chieftain Chille Igbawua has blasted remarks by Nigeria Democratic Congress (NDC) figure Rabiu Kwankwaso, who urged former Vice President Atiku Abubakar to withdraw from the 2027 presidential race. Speaking on Arise Television, Igbawua dismissed claims regarding Atiku’s age and health as completely unfounded, pointing out that biological age does not dictate a leader’s mental capacity, agility, or sagacity.....KINDLY READ THE FULL STORY HERE▶
Igbawua took strong exception to Kwankwaso’s suggestion that they would “take care” of Atiku if victorious, labeling the remark deeply insulting and irresponsible. He noted that such patronizing language has caused severe damage by widening the gulf within the opposition.
Despite the friction, Igbawua reiterated that the ADC remains open to meaningful dialogue to unite the opposition. Expressing total confidence in the party’s prospects, he asserted that the ADC is fully prepared to defeat the incumbent administration in 2027, regardless of whether opposition parties run multiple candidates.
-
latest1 year ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest3 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics3 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics3 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp